Oil jumps 3% in volatile session as Fed promises aggressive asset purchases to support markets

Oil jumped more than 3% on Monday as the Federal Reserved announced aggressive asset purchases to support markets.

The central bank said it will continue to purchase Treasury securities and agency mortgage-backed securities

Traders are hoping that this additional support will put a floor under oil prices

 

 

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Source: CNBC

Oil surges 23% to post best day ever, rebounding from Wednesday’s steep losses

U.S. oil jumped more than 23% on Thursday for its best day on record, as it clawed back more than half of the losses from Wednesday’s swoon.

As tensions between the two countries escalate, President Donald Trump said the U.S. could intervene, which contributed to oil’s gains in afternoon trading.

 

 

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Source: CNBC

Oil jumps 8% on stimulus hopes, spending cuts by U.S. producers

NEW YORK (Reuters) – Oil prices jumped over 8% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier

On Monday, U.S. President Donald Trump pledged “major” steps to gird the U.S. economy against the impact of the spreading coronavirus outbreak.

Japan’s government said it planned to spend more than $4 billion in a second package of steps to cope with the virus.

 

 

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Source: Reuters

Brent, WTI Crude Rebound

Prices are rising for Brent and WTI crude. The gains follow steep losses and a warning on global demand from the International Energy Agency that says global demand is in “free fall.” Bloomberg’s Su Keenan reports on “Bloomberg Daybreak: Asia.” (Source: Bloomberg)

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Source: Bloomberg

Boomtown, Episode 2: The Rise of the Permian

To understand the current shale boom, we take a step back in time to explore the history of oil in Texas.

Boomtown is a 10-episode podcast series produced in partnership with Imperative Entertainment.

 

 

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Source: Texasmonthly.com

Oil tops $60, settles near 3-month high

Oil prices rose slightly Monday on hopes energy demand will benefit from the trade deal between the United States and China.

Brent crude oil futures rose 16 cents to $65.37 a barrel, while West Texas Intermediate crude rose 14 cents to settle near a three-month high of $60.21 a barrel.

 

 

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Source: CNBC

 

Watch: A conversation about how the oil and gas sector affects Texas

In a state that produces more crude and more natural gas than any other, is it any wonder the sun rises and sets on the price of West Texas Intermediate?

In this live conversation, we sit down with industry professionals and local officials for a conversation on the state of play in Texas’ oil and gas sector, moderated by The Texas Tribune’s Ross Ramsey.

 

 

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Source: The Texas Tribune

 

The U.S. Dominates New Oil And Gas Production

The American fracking for oil and natural gas boom will continue on through the 2020s. And why not? Since fracking took off in 2008, we have more than doubled our proven oil reserves to ~65 billion barrels.

Natural gas reserves have surged over 80% to ~430 trillion cubic feet.

 

 

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Source: Forbes

U.S. Shale Will Grow Regardless Of Oil Prices

U.S. shale oil production will continue growing.

Despite a decline in the number of drilling rigs in the U.S. shale patch since the start of the year, the number of spudded wells has not fallen significantly.

 

 

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Source: Oilprice.com

 

Cowboys Owner Jerry Jones Says He’s Hunting for More Gas Assets

Dallas Cowboys owner Jerry Jones is doubling down on Louisiana’s Haynesville play.

Jones, 77, said “My immediate plan is to continue to aggregate long-term reserves to have the most efficient source of natural gas.”

 

 

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Source: Bloomberg.com